Sainsbury's today reported a full-year profits fall of 8.2%, even after the successful acquisition of Argos owner Home Retail Group, prompting its share price to slide. For more on this and the latest corporate news, Ed Bowsher was joined by Chris Bailey, founder of FinancialOrbit.com
The pound and the markets were down this afternoon - could it be in part because of the new Brussels Brexit Bill, hoisted now to €100bn? To discuss further, and talk about more of the latest macro news, Ed Bowsher was joined by Matthew Yates of 7IM.
This morning Georgie was joined by Dr. Kris Naudts, Culture Trip's founder and CEO. Kris, is a former academic psychiatrist turned media entrepreneur and his company Culture Trip was recently named as one of Forbes 2017 Fast-Growing British Companies to Watch and has received $20M in funding from investors PPF Group.
Today on the agenda, Georgie Frost and David Braithwaite from Citrus Financial Management discussed how British consumers have been hit by a total of 300-million pounds worth of unarranged overdraft fees. Plus they look into why mobile 4G coverage "varies widely" across the UK - and is worse that Estonia and Peru. All these stories and more on The News Review.
Analysts are predicting underlying pre-tax profits for Sainsbury’s to be about £578m in its full-year results tomorrow, down from £587m last year. City observers are concerned that the company is leaning too heavily on its recent acquisition of Home Retail, which includes Argos and Habitat. Argos delivered growth of 4.3 per cent in the fourth quarter, like-for-like food sales in the same period fell 0.5 per cent.
A recent study from the Advertising Association has found a fifth of companies surveyed lost business due to the Brexit vote. James Murphy, Adam & Eve/DBB co-founder and AA chairman, said that "On the Friday afternoon of the vote, I got a phone call from a large North American client cancelling a contract, with the question: ‘What the hell have you guys done?’
BP has released its first quarter results today, revealing that - on a replacement cost basis - it's gone back in the black. Is this all down to the recently rising oil price or are other factors at play? For more on this and the day's corporate news, Ed Bowsher spoke to Dan Thomas, Deputy Companies Editor at the Financial Times.
Data released today shows strong UK PMIs for manufacturing, up from 54.2 to 57.3 in April, beating out analysts expectations. Euro-Area manufacturing was also on the up, growing from 56.2 to 56.7. To discuss the causes behind this and more of the day's big macro news, Ed Bowsher was joined by Mike van Dulken, Head of Research at Accendo Markets.
Georgie Frost is joined by financial heavy weights Lindsay Cook and Andy Webb. This week they take on the malfunctioning smart meters charging people as much as seven times their normal bill. Plus why insurance companies are getting the sucker punch this week and is it really a good idea to pay off your student debt?